₹345.05
▼ -20.31 -5.56%
18 Jul 2026
NSE Listed
Emmvee Photovoltaic Pwr Limited (EMMVEE)
Volume: 2,31,57,763Avg Vol 1W: 62,62,919.2Avg Vol 1M: 36,20,457.1552W Range:₹171.51₹371.55
Key Ratios
Checked 17h agoMarket Cap₹25,295 Cr
Current Price₹345.05
Previous Close₹365.36
High / Low (52w)₹371.55 / ₹171.51
Volume2,31,57,763
Avg Vol (1W)62,62,919.2
Avg Vol (1M)36,20,457.15
Stock P/E64.44
Book Value₹53.37
Dividend Yield27%
ROE29.27%
ROA22.07%
Revenue (TTM)₹2,360 Cr
Revenue Growth145.4%
Profit Margin22.84%
Total Debt₹1,689 Cr
Shares Outstanding69 Cr
Face Value₹2
EPS (TTM)₹18.4
P/B6.85
Debt / Equity4.98
50 DMA₹324.69
200 DMA₹248.86
Day change-5.56%
Price Chart
₹345.05▲ 57.27% · 1Y
2025-11-182026-07-16
20-day avg volume: 36.2L shares
Pros
- Healthy return on equity of 29.3%.
- Pays a dividend yield of 27.0%.
- Company is almost debt-free.
- Revenue grew 32% YoY.
- Net profit is growing year over year.
Cons
- Stock trades at a high P/E of 64.
Quarterly Results
| Metric | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹402 Cr | ₹528 Cr | ₹1,072 Cr | ₹1,028 Cr | ₹1,131 Cr | ₹1,152 Cr | ₹1,739 Cr | ₹1,556 Cr |
| EBITDA | ₹81 Cr | ₹159 Cr | ₹298 Cr | ₹293 Cr | ₹347 Cr | ₹355 Cr | ₹497 Cr | ₹481 Cr |
| Net Profit | ₹35 Cr | ₹99 Cr | ₹207 Cr | ₹188 Cr | ₹238 Cr | ₹264 Cr | ₹392 Cr | ₹380 Cr |
| EPS | — | — | — | — | — | — | — | — |
Profit & Loss (Annual)
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Revenue | ₹564 Cr | ₹426 Cr | ₹567 Cr | ₹644 Cr | ₹954 Cr | ₹2,360 Cr |
| EBITDA | ₹72 Cr | ₹61 Cr | ₹72 Cr | ₹40 Cr | ₹81 Cr | ₹591 Cr |
| Net Profit | ₹14 Cr | ₹9 Cr | ₹14 Cr | ₹9 Cr | ₹29 Cr | ₹369 Cr |
| EPS | 12.61 | 8.63 | 12.62 | 0.15 | 0.49 | 6.22 |
Balance Sheet
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Total Assets | ₹873 Cr | ₹874 Cr | ₹842 Cr | ₹841 Cr | ₹2,190 Cr | ₹3,914 Cr |
| Total Liabilities | ₹704 Cr | ₹696 Cr | ₹651 Cr | ₹700 Cr | ₹2,021 Cr | ₹3,377 Cr |
| Equity | ₹170 Cr | ₹178 Cr | ₹191 Cr | ₹140 Cr | ₹169 Cr | ₹537 Cr |
| Total Debt | — | — | — | — | — | — |
Cash Flow
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Operating | ₹182 Cr | ₹80 Cr | ₹137 Cr | ₹60 Cr | ₹250 Cr | ₹679 Cr |
| Investing | ₹-16 Cr | ₹-24 Cr | ₹20 Cr | ₹-131 Cr | ₹-1,000 Cr | ₹-986 Cr |
| Financing | ₹-219 Cr | ₹-54 Cr | ₹-84 Cr | ₹80 Cr | ₹894 Cr | ₹408 Cr |
| Free Cash Flow | ₹182 Cr | ₹80 Cr | ₹137 Cr | ₹60 Cr | ₹250 Cr | ₹679 Cr |
Shareholding
Promoter 80.03% Institutions 14.74% Public 5.23%
Efficiency & Working Capital
ROCE34.4%
Interest Coverage5.5
Dividend Payout—
Debtor Days30 d
Inventory Days119 d
Payable Days55 d
Cash Conversion Cycle94 d
Working Capital Days148 d
Shareholding Details
As of 2026-03-31
Promoter80%
FII2.5%
DII12.3%
Institutions14.7%
Public5.2%
Promoter Pledge0%
No. of Shareholders93,389
Shareholding Pattern
Quarterly — figures in %. Latest 6 quarters.
| Period | Jul 2025 | Jul 2025 | Nov 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 100% | 100% | 80% | 80% | 80% | 80% |
| FIIs | 0% | 0% | 6.2% | 6.2% | 4% | 2.5% |
| DIIs | 0% | 0% | 10.8% | 10.8% | 12.6% | 12.3% |
| Public | 0% | 0% | 3% | 3% | 3.4% | 5.2% |
| Promoter Pledge | 0% | 0% | 0% | 0% | 0% | 0% |
| No. of Shareholders | 9 | 9 | 1,68,200 | 1,68,200 | 1,01,005 | 93,389 |
Returns History (ROE / ROCE / ROA)
| Period | ROE | ROCE | ROA | P/E |
|---|---|---|---|---|
| 202503 | — | — | — | — |
Major Shareholders (>1%)
| Name | Category | Stake | Shares |
|---|---|---|---|
| Shubha Manjunatha Donthi | Shareholding of Promoter and Promoter Group | 38.5% | 26.63 Cr |
| Manjunatha Donthi Venkatarathnaiah | Shareholding of Promoter and Promoter Group | 38.5% | 26.63 Cr |
| Icici Prudential Innovation Fund Through Various Schemes | Public Shareholding | 2.7% | 1.84 Cr |
| Sumanth Manjunatha Donthi | Shareholding of Promoter and Promoter Group | 1.6% | 1.08 Cr |
| Suhas Donthi Manjunatha | Shareholding of Promoter and Promoter Group | 1.6% | 1.08 Cr |
| Aditya Birla Sun Life Insurance Company Limited | Public Shareholding | 1.3% | 91,03,923 |
| Kotak Equity Savings Fund Through Various Schemes | Public Shareholding | 1.3% | 87,51,607 |
| Shreiya Suhas Donthi | Shareholding of Promoter and Promoter Group | 0% | 1 |
| Atharva Donthi | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Eshaani Donthi | Shareholding of Promoter and Promoter Group | 0% | 0 |
| N Ravishankar | Shareholding of Promoter and Promoter Group | 0% | 0 |
| N R Nivedita | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Adithya Nagaraj N R | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Nagappasetty Ravishankar Huf | Shareholding of Promoter and Promoter Group | 0% | 0 |
| N Ravishankar Huf | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Harish Babu K N | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Saroja Attriguppe | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Prabha Prasad | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Anitha Manjunatha | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Roopa | Shareholding of Promoter and Promoter Group | 0% | 0 |
| D V Sridhar | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Manjunatha Donthi Family Trust (trustee Manjunatha Donthi Venkatarathnaiah ) | Shareholding of Promoter and Promoter Group | 0% | 11,000 |
| Shubha Donthi Family Trust (trustee Manjunatha Donthi Venkatarathnaiah ) | Shareholding of Promoter and Promoter Group | 0% | 11,000 |
| Emmvee Green Power Private Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
| Emmvee Solar Systems Private Limited | Shareholding of Promoter and Promoter Group | 0% | 0 |
Promoter Pledges
| Holder | Pledged Shares | % of Holding | As of |
|---|---|---|---|
| Shubha Manjunatha Donthi | 0 | 0% | 2026-03-31 |
| Manjunatha Donthi Venkatarathnaiah | 0 | 0% | 2026-03-31 |
| Shreiya Suhas Donthi | 0 | 0% | 2026-03-31 |
| Sumanth Manjunatha Donthi | 0 | 0% | 2026-03-31 |
| Suhas Donthi Manjunatha | 0 | 0% | 2026-03-31 |
| Atharva Donthi | 0 | 0% | 2026-03-31 |
| Eshaani Donthi | 0 | 0% | 2026-03-31 |
| N Ravishankar | 0 | 0% | 2026-03-31 |
| N R Nivedita | 0 | 0% | 2026-03-31 |
| Adithya Nagaraj N R | 0 | 0% | 2026-03-31 |
| Nagappasetty Ravishankar Huf | 0 | 0% | 2026-03-31 |
| N Ravishankar Huf | 0 | 0% | 2026-03-31 |
Board of Directors
| Name | Designation | Year |
|---|---|---|
| DHONTI VENKATRATHNAIAH MANJUNATHA | Chairman & Managing Director | 2025 |
| MANJUNATHA DONTHI SHUBHA | Non Executive Director | 2025 |
| Suhas Donthi Manjunatha | Whole Time Director & Chief Executive Officer | 2025 |
| Ram Kumar Tiwari | Independent Director | 2025 |
| Sambasivarao Chandramouleswara Sharada | Independent Director | 2025 |
| Santosh Kumar Mohanty | Independent Director | 2025 |
| Shailesha Barve | Company Sec. & Compli. Officer | 2025 |
Segments — Product
| Segment | Revenue | Share |
|---|---|---|
| Solar EPC and others | ₹177 Cr | 10% |
| Photovoltaics Modules | ₹1,586 Cr | 90% |
Segments — Geography
| Region | Revenue | Share |
|---|---|---|
| Domestic | ₹1,755 Cr | 99.5% |
| Export | ₹8 Cr | 0.5% |
Capital Structure (₹ Cr)
| Year | Face Value | Authorised | Issued | Paid-up |
|---|---|---|---|---|
| 2025 | ₹2 | 12 | 11 | 11 |
Corporate Actions
| Type | Date | Value | Remark |
|---|---|---|---|
| forthcoming | 2026-07-15 | Board Meetings | — |
Related-Party Transactions (₹ Cr)
| Year | Subsidiaries | Associates | JV | KMP | Others | Total |
|---|---|---|---|---|---|---|
| 2025 | 0 | 0 | 0 | 34 | 1,753 | 1,788 |
| 2025 | 0 | 0 | 0 | 8 | 605 | 613 |
| 2025 | 0 | 0 | 0 | 26 | 748 | 775 |
Company Information
Incorporated2007
ChairmanDHONTI VENKATRATHNAIAH MANJUNATHA
AuditorMSKC & Associates LLP
Investor Email[email protected]
📍 13/1 International Airport Rd, Bettahalasur Post, Bangalore, Karnataka, 562157
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